EuroPharma Today

MediGene’s ‘Airbag’ Equity Deal Provides EndoTAG-1 Partnering Flexibility

As partnering talks continue for its most important, latest stage asset - a Phase II anti-cancer drug - MediGene has bought itself some breathing room with an option to sell up to 25 million Euros (about $35 million) worth of equity to the Yorkville Group's YA Global Investments.

UK's Intercytex Buys Stem Cell Group Axordia

LONDON - Regenerative medicine group Intercytex announced Dec. 22 it would purchase privately-held UK company Axordia in an all-share deal worth £1.68 million ($2.48 million). The money was admittedly small, but this style of transaction - in which Intercytex issued 7,000,000 new ordinary shares at 1p each to Axordia's shareholders - illustrates that in today's environment dilution is preferable to relinquishing any cash at all.

Pfizer And Auxilium Set Partnership For European Rights To Xiaflex

As Big Pharmas continue to have more negotiating leverage, there's a clear preference for tightly structured alliances rather than outright biotech purchases. In that vein, Pfizer has agreed to pay Auxilium $75 million upfront for the European rights to Xiaflex, a biological enzyme in Phase III for Dupuytren's contracture and Phase IIb for Peyronie's disease.

NicOx Data Positive, But Is it Enough?

Shares in France's largest biotech, NicOx, received a small boost after the company on Dec. 17 reported positive blood pressure data for Phase III-hopeful naproxcinod.

New Funding Source For Cash-Strapped BioPharma

LONDON - At last, some good news for cash-strapped biopharmaceutical firms. Denmark's Novo A/S plans to invest as much as $200 million annually in later-stage and commercially focused life-sciences companies, supplementing existing venture capital and seed-stage financing.